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a year. huge waste of brain power. so yes, tax simplification is absolutely essential. paul ryan, the vice presidential candidate, has an even better plan than romney has, and that's junk the code, have two rates after exemptions, 10% above $100,000, 25%. that would get the economy moving. >> what mike was talking about, all of these tax cuts just add to the tax code, they don't make it simpler or smaller. >> i can get behind a simpler tax code, but i'm still suffering from the ripple in the force i felt when david asman told me i was right. i'm going to lose my liberal union card. steve pointed he likes the vice president's candidate program the president's candidate. all of you republicans seem to bant paul ryawant paul ryan for, but he's not. >> i heard you say no about the idea of tax simplification. why is that not a good thing? >> we're all basing this argument predicated on lower tax rates are going to stimulate things. companies are not using the industrial capacity they have now. they laid off workers because there's no demand. cut their taxes, it doesn't mean they're go
-term. that's the plan that i put forward, and by the way, the idea came not even from paul ryan or senator wyden who's a co-author of the bill in the senate, but also from bill clinton's chief of staff. this is an idea that's been around a long time. hey, let's see if we can't get competition into the medicare world so that people can get the choice of different plans at lower costs, better quality. i believe in competition. >> moderator: okay. obama: jim, if i can just respond very quickly. first of all, every study has shown that medicare has lower administrative costs than private insurance does, which is why seniors are generally pretty happy with it. and private insurers have to make a profit. nothing wrong with that, that's what they do. and so you've got higher administrative costs plus profit on top of that, and if you are going to save any money through what governor romney's proposing, what has to happen is that the money has to come from somewhere. and when you move to a voucher system, you are putting seniors at the mercy of those insurance companies. and over time if tradition
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